Silgan Holdings Inc. (SLGN) VP Adam J. Greenlee Sells 4,417 Shares
Silgan Holdings Inc. (NASDAQ:SLGN) VP Adam J. Greenlee sold 4,417 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $50.03, for a total value of $220,982.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Silgan Holdings Inc. (NASDAQ:SLGN) remained flat at $49.79 during midday trading on Thursday. 371,973 shares of the company traded hands. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 19.40 and a beta of 0.60. Silgan Holdings Inc. has a 1-year low of $47.16 and a 1-year high of $55.90. The firm has a 50-day moving average price of $50.09 and a 200-day moving average price of $50.13.
Silgan Holdings (NASDAQ:SLGN) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.25 by $0.02. Silgan Holdings had a return on equity of 24.33% and a net margin of 4.30%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business earned $1.26 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts expect that Silgan Holdings Inc. will post $2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, November 29th. Silgan Holdings’s dividend payout ratio is currently 26.36%.
Several institutional investors have recently added to or reduced their stakes in SLGN. Fiera Capital Corp bought a new position in Silgan Holdings during the second quarter worth about $54,190,000. Deprince Race & Zollo Inc. acquired a new position in Silgan Holdings during the third quarter valued at about $23,666,000. Nordea Investment Management AB acquired a new position in Silgan Holdings during the third quarter valued at about $22,910,000. Citadel Advisors LLC boosted its position in Silgan Holdings by 143.7% in the third quarter. Citadel Advisors LLC now owns 685,846 shares of the company’s stock valued at $34,697,000 after buying an additional 404,431 shares during the last quarter. Finally, FMR LLC boosted its position in Silgan Holdings by 6.4% in the second quarter. FMR LLC now owns 6,112,850 shares of the company’s stock valued at $314,567,000 after buying an additional 366,272 shares during the last quarter. 69.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on SLGN. Citigroup Inc. reduced their price target on Silgan Holdings from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, August 2nd. Zacks Investment Research cut Silgan Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Wells Fargo & Co. cut Silgan Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. began coverage on Silgan Holdings in a report on Tuesday, September 13th. They issued a “neutral” rating and a $51.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.63.
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Silgan Holdings Company Profile
Silgan Holdings Inc (Silgan) is a manufacturer of rigid packaging for shelf-stable food and other consumer goods products. The Company operates through three segments: metal container, closures and plastic container. The Company’s products include steel and aluminum containers for human and pet food and general line products; metal, composite and plastic closures for food and beverage products, and custom designed plastic containers and closures for personal care, food, healthcare, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive and marine chemical products.
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